THE INCOME STATEMENT Before you start the assignment, test your understanding of concepts covered in the assignment. It is not a graded quiz, but a tool for reviewing some key points. The tool can be

THE INCOME STATEMENT

Before you start the assignment, test your understanding of concepts covered in the assignment. It is not a graded quiz, but a tool for reviewing some key points. The tool can be used multiple times.

The purpose of this SLP is to apply ratio analysis to assess the financial health of ABC Company. Use the income statement presented in the case during this module to compute general or overall profitability ratios. Compute three ratios using at least one of the income statement accounts for each ratio. Some profitability ratios include both income and balance sheet accounts. The balance sheet accounts are found in module 2.

Assume that ABC Company is a small specialty retail store. Ratios are relevant when assessed over time or across companies. IBIS is a comprehensive resource containing market research and statistics, which can be used to compare ABC Company to the industry and leaders in the industry.

  1. Show the computation of the three ratios.
  2. Comment on the purpose and information conveyed by each ratio.
  3. What did you learn about ABC Company by reviewing the three ratios?
  4. What is your conclusion about the profitability of the company?
  5. How successful is ABC Company relative to the industry average and leaders in the small specialty retail store industry? Write two paragraphs or more. Include ratios found in the IBIS database to support your conclusion                                             SLP Assignment Expectations

Show the formulas for the computations. Two to three sentences are sufficient to respond to questions 1 through 4.

See above for question 5 instructions. Do not use an essay format.

Show sources when appropriate and APA format is suggested, but not required.

The direct correlation between increasing youth depression and violence This composition founds a bettor inclusion of youth wildness including its impact and causes. Besides the essay instances the ve

The direct correlation between increasing youth depression and violence

This composition founds a bettor inclusion of youth wildness including its impact and causes. Besides the essay instances the versatile classes of violent deeds that youngsters ask themselves in. Abaft analysing the reasons for violence in youth, the essay besides proffers strategical solves to battle this societal evilness and again advance peaceable behaviors in youngsters. So, succeeding thither is a holistic aspect of youthfulness wildness backed by any essential physiques .

THE INCOME STATEMENT Before you start the assignment, test your understanding of concepts covered in the assignment. It is not a graded quiz, but a tool for reviewing some key points. The tool can be

THE INCOME STATEMENT

Before you start the assignment, test your understanding of concepts covered in the assignment. It is not a graded quiz, but a tool for reviewing some key points. The tool can be used multiple times.

The purpose of this SLP is to apply ratio analysis to assess the financial health of ABC Company. Use the income statement presented in the case during this module to compute general or overall profitability ratios. Compute three ratios using at least one of the income statement accounts for each ratio. Some profitability ratios include both income and balance sheet accounts. The balance sheet accounts are found in module 2.

Assume that ABC Company is a small specialty retail store. Ratios are relevant when assessed over time or across companies. IBIS is a comprehensive resource containing market research and statistics, which can be used to compare ABC Company to the industry and leaders in the industry.

  1. Show the computation of the three ratios.
  2. Comment on the purpose and information conveyed by each ratio.
  3. What did you learn about ABC Company by reviewing the three ratios?
  4. What is your conclusion about the profitability of the company?
  5. How successful is ABC Company relative to the industry average and leaders in the small specialty retail store industry? Write two paragraphs or more. Include ratios found in the IBIS database to support your conclusion.                                             SLP Assignment Expectations

Show the formulas for the computations. Two to three sentences are sufficient to respond to questions 1 through 4.

See above for question 5 instructions. Do not use an essay format.

Show sources when appropriate and APA format is suggested, but not required.

Assignment Overview The background material for this module explains and shows examples of income statements. Pay attention to the layout and definitions of the income statement before reviewing the i

Assignment Overview

The background material for this module explains and shows examples of income statements. Pay attention to the layout and definitions of the income statement before reviewing the income statement for ABC Company shown below.

Case Assignment

The background information for the module includes the basic ideas, but for more ideas go to the optional background source principlesofaccounting.com. The site also offers multiple videos that you may find relevant. You may also use other sites to for ideas to complete the table. Do not forget to reference the sources used.

Answer the questions below and explain your answer with numbers, computations, or a sentence or two.

  1. Explain the term cost of sales in your own words. Is likely that the balance sheet of this company includes inventory?
  2. Gross profit (margin) is a key piece of financial information. Why is it so important?
  3. Explain operating expenses? What does the term mean?
  4. Does ABC Company have any employees? Explain.
  5. There is an error in the income statement. Property taxes are overstated by $10,000. How is the income statement affected by a correction of property taxes?
  6. What happens to net income if the company hires a new manager at a salary of $80,000?
  7. Does the company own any equipment? Is it informative to also check the balance sheet to answer this question? Explain.
  8. Does the company have debt? How much debt? Explain how the income statement and balance sheet provide answers to the questions?
  9. How do we know that ABC Company is using the accrual basis of accounting? Hint: Do not forget to look at the balance sheet from the prior module.
  10. What happens to income statement at the end of the period? Is it continuous or does it close (terminate)?

Assignment Expectations

Respond to all questions showing your computations and/or using your own words. Do not use an essay format.

Show sources when appropriate and APA format is suggested, but not required.

  • The objective for this assignment is to evaluate accounting concepts of income statement.

Assignment Overview The background material for this module explains and shows examples of income statements. Pay attention to the layout and definitions of the income statement before reviewing the i

Assignment Overview

The background material for this module explains and shows examples of income statements. Pay attention to the layout and definitions of the income statement before reviewing the income statement for ABC Company shown below.

Case Assignment

The background information for the module includes the basic ideas, but for more ideas go to the optional background source principlesofaccounting.com. The site also offers multiple videos that you may find relevant. You may also use other sites to for ideas to complete the table. Do not forget to reference the sources used.

Answer the questions below and explain your answer with numbers, computations, or a sentence or two.

  1. Explain the term cost of sales in your own words. Is likely that the balance sheet of this company includes inventory?
  2. Gross profit (margin) is a key piece of financial information. Why is it so important?
  3. Explain operating expenses? What does the term mean?
  4. Does ABC Company have any employees? Explain.
  5. There is an error in the income statement. Property taxes are overstated by $10,000. How is the income statement affected by a correction of property taxes?
  6. What happens to net income if the company hires a new manager at a salary of $80,000?
  7. Does the company own any equipment? Is it informative to also check the balance sheet to answer this question? Explain.
  8. Does the company have debt? How much debt? Explain how the income statement and balance sheet provide answers to the questions?
  9. How do we know that ABC Company is using the accrual basis of accounting? Hint: Do not forget to look at the balance sheet from the prior module.
  10. What happens to income statement at the end of the period? Is it continuous or does it close (terminate)?

Assignment Expectations

Respond to all questions showing your computations and/or using your own words. Do not use an essay format.

Show sources when appropriate and APA format is suggested, but not required.

  • The objective for this assignment is to evaluate accounting concepts of income statement.

Creating Your Personal Budget For this assignment, you will apply what you have learned in this unit to a small business. To get the business’s finances under control, you need to prepare a budget. Yo

Creating Your Personal Budget

For this assignment, you will apply what you have learned in this unit to a small business. To get the business’s finances under control, you need to prepare a budget. You may consider items from your personal finances and cash flow to help you identify possible expense items for the small business budget. Research the CSU Online Library or the Internet for steps to creating a personal budget.

Monthly expenses might include rent, utility costs, personal loans, car loans, credit cards, groceries, childcare, vehicle maintenance costs and insurance, phone charges, and cable or streaming costs. Cash flow considerations might include monthly salaries, commissions, and allowances.

You can use any budget format that you are comfortable with, or you may select a free template. Your budget should be completed using Excel. Once you have completed your budget, in a separate Word document, address the information below.

  • How can the use of the budget be used in the planning process?
  • How can this financial information influence short-term and long-term decisions?
  • Based on your personal budget, what are your static expenses? What are your flexible expenses?
  • As an accountant, reflect on how you can use what you have learned in this activity in the workplace.

Your submission should include one Excel document, which contains your budget, and a one-page Word document, which contains your responses to the prompts above. You should include at least two resources to support your responses. Adhere to APA Style when creating citations and references for this assignment.